Ramdev trust challenge I-T notice
Posted on: 08:32 PM IST May 17, 2012
New Delhi: Yoga guru Ramdev's trust have challenged the action of the Income Tax department to slap a tax demand of Rs 58 crore on their income through sales of ayurvedic medicines.
"Since inception we have been doing charity in terms of providing medical relief and other such activities to the needy. We have challenged the I-T department's notice at the Commissioner of I-T (Appeals) office and we know that we will get justice," Ramdev's spokesperson SK Tijarawala told in his reaction to the I-T department's action.
He said the department has said that the trusts have not been doing charitable work but "the world knows that we have been running hospitals and educational institutes for long."
"We will fight against this order and we have noting to hide," he said.
The I-T department has slapped a notice of Rs 58 crore demand on the sale of the ayurvedic medicines by Ramdev owned trusts. The income has been assessed at Rs 120 crore for the assessment year 2009-10.